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AI ‘Arms Race’ still poses global stability risk, BIS chief says
Pablo Hernandez de Cos, general manager, the Bank for International Settlements The dynamics of the current situation pose particular risks, he added, noting that AI investment is concentrating among only a few players, and capital spending outpaces cashflow at such...
Sivasankar gets additional charge as NIA CMD
S. Sivasankar, Executive Director,New India Assurance The FSIB has aleady selected Lavanya R. Mundayur, CMD, Agriculture Insurance Company, as the next CMD of NIA and the necessary order is under process with the government. Mumbai: The Ministry of Finance has given...
Govt amends E-Commerce Rules to strengthen consumer protection
The Consumer Protection (E-Commerce) Rules, 2020, notified under the Consumer Protection Act, 2019, provide the framework for safeguarding consumers against unfair trade practices in the e-commerce sector. The amended Rules 2026 further strengthen this framework in...
Banking services impacted as unions go on nationwide strike to press for 5-day workweek
The strike call given by the UFBU, an umbrella body of seven unions representing 90 per cent of officer and employee strength, did not impact the functioning of private sector banks. NEW DELHI: Banking services, especially at public sector banks across the country,...
NSE IPO Price Band Set: Rs 1,700-1,785; Opens Sep 17
The IPO will be entirely an offer for sale (OFS) of up to 12.64 crore equity shares by existing shareholders including some state owned insurers , compared with 14.9 crore shares planned earlier. The reduction in the OFS size has brought down the overall issue size...
FY26 Performance: Indian general insurance underwriting losses surge 54% to Rs 46,632 crore,profit plunges 92% to Rs 953 crore
The underwriting blowout has virtually wiped out industry profitability. Aggregate net profit plunged 92% year-on-year to just Rs 953 crore in FY26, while the industry’s average combined ratio deteriorated sharply from 112.61% in FY25 to 117.83%, underscoring the...
Houthis advance along Yemeni coast, threaten Saudi oil exports in the Red Sea
Saudi Arabia, the world's largest oil exporter, has relied on the Red Sea route since the Iran conflict effectively closed Hormuz, through which a fifth of global oil used to flow. CAIRO/WASHINGTON/DUBAI: Iran-aligned Houthis seized control of Yemen's port city of...
UK airlines say they’re left on the hook for ATC outage cost
The financial fallout from the fault at the National Air Traffic Services “will run into tens of millions of pounds, falling entirely on airlines,” Tim Alderslade, chief executive officer for industry group Airlines UK, wrote Wednesday in a letter to UK Transport...
From digital India to intelligent India: Jyotiraditya Scindia outlines vision for trusted digital finance
Union Minister for Communications Jyotiraditya Scindia cited the Financial Fraud Risk Indicator (FFRI), mandated by the Reserve Bank of India, as part of efforts to identify suspicious transactions and strengthen coordination across the banking ecosystem.The system...
RBI Governor advises fintech firms against expanding business by exploiting regulatory gaps
Sanjay Malhotra,Governor, Reserve Bank of India Reserve Bank of India Governor Sanjay Malhotra cautioned companies against adopting a strategy of scaling first and seeking regulatory forgiveness later, saying that firms attempting to outrun regulations could...
NPS Swasthya likely to launch within 30 days, final guidelines due in days: PFRDA chief
Sivasubramanian Ramann, Chairman,PFRDA NPS Swasthya is a health-focused pension product under the National Pension System that allows subscribers to set aside part of their retirement corpus for medical expenses. PFRDA introduced it initially as a proof of concept...
SEBI preparing markets for quantum computing risks, post-quantum cryptography: Tuhin Kanta Pandey
Pandey said sufficiently advanced quantum computing could pose a risk to the cryptographic systems currently used to secure digital information. Mumbai: The Securities and Exchange Board of India (SEBI) is preparing the securities market for cybersecurity risks that...
BRICS Climate Agenda: Focus on Global South as India pushes for sustainable future
While energy transition focuses on reducing future emissions, climate adaptation is becoming increasingly important for countries already dealing with climate-related risks. As India prepares to host the 18th BRICS Summit, climate action is emerging as an important...
Equity MF inflows hit 4-Month high in August: AMFI Data
The overall mutual fund industry saw a decline in net inflow to Rs 41,353 crore in August compared to a staggering Rs 2.36 lakh crore in July. This was primarily driven by debt-oriented schemes, which experienced an outflow of Rs 8,127 crore as compared to an inflow...
Aviation regulator DGCA orders drug tests for pilots across all airlines
The moves come against the backdrop of the pilot-in-command of an Air India Phuket-Delhi flight, which suddenly lost nearly 300 feet altitude leaving many passengers injured on August 4, testing positive for drug use. New Delhi: Aviation watchdog DGCA has ordered drug...
Govt open to stricter red warnings on food packs in latest setback for companies
"We are concerned with the health of people, more particularly growing children. We have taken it up very seriously. We expect one and all to extend their cooperation to a cause which is in national interest," the Supreme Court said on Thursday. NEW DELHI: India's...
Ind AS:11 re/insures switch to new accounting system, says IRDAI
The insurers that have been granted forbearance and are scheduled to implement Ind AS from FY 2027-28 are being closely monitored by IRDAI as per their board approved monthly implementation milestones. The IRDAI is engaging with insurers on an ongoing basis, with any...
Zuno Gen Insurance promises to cover damage to cars due to blended fuel use
The product comes amid a heated debate on the impact of the mandatory use of ethanol in fuels. The government has admitted to reverses on mileages, while there are also claims of other damage, including to engines. Mumbai: Zuno General Insurance on Wednesday said it...